Watch CNBC's full discussion with J.P. Morgan's Meera Pandit and Neuberger Berman's Shannon Saccoica
Meera Pandit, J.P. Morgan Asset Management global market strategist, and Shannon Saccocia, Neuberger Berman chief investment officer of wealth, join CNBC's 'Closing Bell' to discuss market outlooks.
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CNBC
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Amazon CEO Jassy says AI will lead to 'fewer people doing some of the jobs' that get automated
Amazon CEO Andy Jassy said the rapid rollout of generative artificial intelligence means the company will one day require fewer employees to do some of the work that computers can handle. "Like with every technical transformation, there will be fewer people doing some of the jobs that the technology actually starts to automate," Jassy told CNBC's Jim Cramer in an interview on Monday. "But there's going to be other jobs." Even as AI eliminates the need for some roles, Amazon will continue to hire more employees in AI, robotics and elsewhere, Jassy said. Earlier this month, Jassy admitted that he expects the company's workforce to decline in the next few years as Amazon embraces generative AI and AI-powered software agents. He told staffers in a memo that it will be "hard to know exactly where this nets out over time" but that the corporate workforce will shrink as Amazon wrings more efficiencies out of the technology. It's a message that's making its way across the tech sector. Salesforce CEO Marc Benioff last week claimed AI is doing 30% to 50% of the work at his software vendor. Other companies such as Shopify and Microsoft have urged employees to adopt the technology in their daily work. The CEO of Klarna said in May that the online lender has managed to shrink its headcount by about 40%, in part due to investments in AI and natural attrition in its workforce. Jassy said on Monday that AI will free employees from "rote work" and "make all our jobs more interesting," while enabling staffers to invent better services more quickly than before. Amazon and other tech companies have also been shrinking their workforces through rolling layoffs over the past several years. Amazon has cut more than 27,000 jobs since the start of 2022, and it's announced smaller, more targeted layoffs in its retail and devices units in recent months. Amazon shares are flat so far this year, underperforming the Nasdaq, which has gained 5.5%. The stock is about 10% below its record reached in February, while fellow megacaps Meta, Microsoft and Nvidia are all trading at or very near record highs.
Bloomberg
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Robinhood Adds US Shares on the Blockchain
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Miami Herald
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- Miami Herald
Ram Passenger Van Return Teased by Tim Kuniskis in 2025
After just seven months in retirement, Tim Kuniskis returned to running Stellantis' Ram truck brand earlier this year. So far, he's made his presence known. But in a recent interview with CNBC, Kuniskis said there's much more on the way-including a possible return to passenger vans. Kuniskis plans to make more than 25 announcements through next year. So far those have included the return of Hemi V8 to the Ram 1500 pickup truck, the brand's entry into the NASCAR Craftsman Truck Series, and impressive powertrain warranties. Kuniskis told CNBC that further announcements could encompass some new models, potentially including a passenger van. Kuniskis didn't provide any details on the potential passenger van, but the most obvious route to take would be adding more seats to the current Ram ProMaster. While it's only sold as a cargo van and in a "crew" configuration with second-row seats for occasional use, the ProMaster's Fiat Ducato cousin is sold in Europe as a passenger van. Cargo vans converted to passenger vans have been the default for Ram in the past, and for Dodge before the truck and van lines were split off into the separate Ram brand. The smaller ProMaster City (another Fiat derivative) was available in both passenger and cargo configurations before it was discontinued in 2022, making it the last Ram passenger van sold in the U.S. to date. A passenger conversion of a cargo van would fill a hole in Ram's current lineup. The Mercedes-Benz Sprinter, Ford Transit, and even General Motors' ancient Chevrolet Express and GMC Savanna are all available in both passenger and cargo-carrying configurations. The electric Volkswagen is somewhat smaller than these full-size vans, but also fits that template, although the cargo version isn't sold in the U.S. Kuniskis' flurry of announcements is meant to help Ram get its groove back. The truck brand's sales have declined 38% since their peak in 2019, it plummeted down the rankings in the latest J.D. Power Initial Quality Study, and has continually delayed its first all-electric and plug-in hybrid pickups. New products will help Ram compete in more market segments and make the brand's success less reliant on its full-size and heavy-duty pickups. Ram has already confirmed a midsize pickup truck for 2027, but other than that, it's been vague on what might be in the pipeline. If Kuniskis keeps up the current pace of announcements, though, we'll find out soon enough. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
